Marathon Patent Group, Inc. (MARA) Announces Quarterly Earnings Results
Marathon Patent Group, Inc. (NASDAQ:MARA) released its earnings results on Monday. The business services provider reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.05, Bloomberg Earnings reports. Marathon Patent Group had a negative net margin of 81.91% and a negative return on equity of 1,139.06%. The firm had revenue of $0.37 million for the quarter, compared to analyst estimates of $0.50 million.
Marathon Patent Group (NASDAQ:MARA) traded down 7.4884% during trading on Tuesday, reaching $0.2582. 652,497 shares of the company’s stock traded hands. The company’s 50 day moving average is $0.32 and its 200-day moving average is $0.70. The stock’s market cap is $6.00 million. Marathon Patent Group has a 52-week low of $0.13 and a 52-week high of $3.44.
In other news, major shareholder Jeff Feinberg sold 419,482 shares of the company’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $0.37, for a total transaction of $155,208.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 19.80% of the company’s stock.
An institutional investor recently raised its position in Marathon Patent Group stock. Renaissance Technologies LLC increased its stake in shares of Marathon Patent Group, Inc. (NASDAQ:MARA) by 263.6% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 84,000 shares of the business services provider’s stock after buying an additional 60,900 shares during the period. Renaissance Technologies LLC owned approximately 0.56% of Marathon Patent Group worth $144,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 5.67% of the company’s stock.
Separately, Zacks Investment Research raised shares of Marathon Patent Group from a “hold” rating to a “buy” rating and set a $0.50 target price on the stock in a report on Wednesday, May 17th.
Marathon Patent Group Company Profile
Marathon Patent Group Inc (MARA) is engaged in acquiring patents and patent rights from owners or other ventures. The Company monetizes its portfolio of patents and patent rights by entering into license discussions. The Company owns around 378 United States and foreign patents, and patent rights across a range of technologies and markets.
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